We discuss how lead generation works, the roles of the various players in the lead generation marketplace, the key regulatory risks arising under the Fair Credit Reporting Act, Telephone Consumer Protection Act, and Telemarketing Sales Rule, FTC enforcement cases, and CFPB supervisory concerns. We also discuss the impact of the Real Estate Settlement Procedures Act’s referral fee prohibition and fair lending/fair housing laws on lead generation involving mortgage-related services and state licensing issues triggered by lead generation.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation joined by Matthew Morr, Richard Andreano, and John Socknat, partners in the firm’s Consumer Financial Services Group.

The CFPB’s recently-issued request for information takes aim at what the CFPB labels “junk fees” charged by consumer financial services providers. We discuss the types of fees targeted in the RFI, particularly fees related to deposit accounts and mortgages, and the impact of existing regulatory requirements on the CFPB’s initiative. We also examine the CFPB’s authority to address so-called “junk fees,” consider possible short- and long-term actions the CFPB could take in response to the RFI, offer steps providers can take to prepare for greater scrutiny of ancillary fees and possible legal challenges, and describe the CFPB readiness reviews that Ballard Spahr attorneys are conducting to assist providers in assessing the permissibility and disclosure of fees charged in connection with their consumer products and services.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation, joined by John Culhane, Richard Andreano, and Ron Vaske, partners in the firm’s Consumer Financial Services Group.

In addition to discussing what cryptocurrency is, we look at some of the regulatory rules that apply to this increasingly popular but complicated financial instrument, including registration and compliance program requirements, and consider how crypto exchanges, financial institutions, and other businesses should address crypto transactions involving unhosted digital wallets and requirements for the identification and reporting of counter-parties to transactions.

Mike Robotti, a partner in Ballard Spahr’s White Collar and Internal Investigations Group hosts the conversation, joined by Peter Hardy and Marjorie Peerce, partners in the Group.

Prof. Glover is the author of the first major academic study of mass arbitration, which is soon to be published as a law review article. In Part II of this two-part podcast, we discuss the economics of mass arbitration, including the minimum claim amount necessary to make mass arbitration viable and how consumers’ recovery in arbitration compares with their recovery in class actions, the use of targeted advertising and other methods by plaintiffs’ attorneys to reach potential claimants, and changes companies might consider to their arbitration agreements to address the growing use of mass arbitration, such as changes addressing cost sharing and carve outs for claims eligible for adjudication in small claims court.

Ballard Spahr Senior Counsel Alan Kaplinsky hosts the conversation.

Prof. Glover is the author of the first major academic study of mass arbitration, which is soon to be published as a law review article. In Part I of this two-part podcast, after reviewing the historical background of the Federal Arbitration Act, key SCOTUS arbitration decisions, and the evolution of mass arbitration, Prof. Glover discusses the findings of her case study, the legal viability of mass arbitration, investments being made by the plaintiffs’ bar in the use of mass arbitration, and the how arbitration administrators are responding to mass arbitration.

Ballard Spahr Senior Counsel Alan Kaplinsky hosts the conversation. 

Profs. Zywicki and Miller have co-authored a soon-to-be published study, “The Effects on Consumers from Two State-Level Regulations of the Payday Loan Market,” in which they analyzed 15.6 million storefront payday loans made to 1.8 million unique borrowers in 2013 to determine whether the number of loans a consumer takes in a year is a meaningful assessment of consumer welfare. They explain how the results of their analysis demonstrates that the CFPB’s prohibition on more than six loans a year in its payday loan rule was arbitrary and did not represent a reasonable consumer protection policy. They also discuss their expectations for how the CFPB under Director Chopra is likely to approach payday and other small dollar loans and respond to criticism of their study by consumer advocates.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation.

Rising interest rates and inflation are two key factors that are expected to create a more challenging business environment in 2022.  Based on his work at the intersection of technology and financial services, Todd shares his perspective on how this new environment is likely to impact providers of various types of consumer financial services, particularly non-bank fintech companies.  We also discuss the new environment’s likely impact on earned wage access products, income share agreements, and buy-now-pay-later products and expectations for regulatory scrutiny of those products.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation.

The topics discussed include the historic changes made by the AML Act at the beginning of 2021, including the Corporate Transparency Act (CTA); the proposed FinCEN rules to implement the CTA’s beneficial ownership reporting requirements; the CTA’s implications for financial institutions’ customer due diligence compliance obligations; FinCEN’s list of priorities for AML and countering the financing of terrorism; potential AML regulation of the real estate industry; and expectations for future BSA/AML regulation and enforcement concerning virtual currency and digital assets.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts a conversation with Peter Hardy, a partner in the firm.  A former federal prosecutor, Peter is a co-leader of the firm’s Anti-Money Laundering Team.

In this wide-ranging conversation with two experienced reporters on the consumer finance industry, we discuss differences between the current CFPB and the Trump-era CFPB, including with regard to areas of regulatory and enforcement focus such as UDAAP, consumer access to financial information, small business issues, and fair lending. We also discuss the potential implications of the current CFPB’s interest in buy-now-pay-later and its inquiry into large technology companies that offer payment services. Other topics include the potential impact of the recent leadership turmoil at the FDIC and expectations for activity by state regulators and attorneys general.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation.

We look at the legal considerations that should be addressed when developing subscriptions for consumer financial products and services. After reviewing the practices addressed by federal and state automatic renewal/subscription laws and the types of products and services covered by such laws, we discuss legal requirements for subscriptions and renewals such as up-front disclosures, notification obligations, and cancellation options, federal and state enforcement actions, and private litigation.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation joined by Kim Phan and Jason Cover, partners in the firm’s Consumer Financial Services Group, and Jill Dolan, an associate in the Group.